TED Conversations

chris brook

This conversation is closed.

Central Banks of the G8 countries should set up algorithms to spin off money to aid developing countries.

The rich countries can't afford states to fail. Therefore they have to do something.
Taxing financial transactions could provide funding. Algorithms could be programmed to do the rest. Where there is a will there is a way !
It would be win-win!

Share:
  • thumb
    Jun 21 2013: "To expect fortune to descend like pie from the sky has replaced the sense of being able to shape one's own economic society by collective effort." Max Lerner, "I'm Dreaming of a Bright Sweepstake," 1949. Stalin said Communism could be done away with once class structure was abolished and the lowest class eliminated. Your post makes me think of pie from the sky and a world without classes where everyone gets (from the State) according to their needs and gives (to the State) according to their abilities. Is that your vision for universal peace and global harmony? It has a long, consistent history of utter failure to bring about such a result.
  • thumb
    Jun 21 2013: The "rich countries" are already giving a lot of donations to the "3rd world." The main problem seems to be not the amount of money given, but what happens to it after it gets there. Corruption makes it useless to give financial aid to many states.

    Many "poor" countries are rich in resources, but governments are often spending the budget on acquiring weapons and providing the leaders with a luxurious lifestyle. India and Pakistan have thousands of villages that do not have a drinking water system, while the states are developing atom bombs and rockets to destroy their neighbors. It's immoral to give money to states like that. Their solution lies largely within the country itself.
  • Jun 22 2013: Chris, I refer to this statement a lot of the time.
    I think that It fits here. So here goes.

    Plutarch, in writing, "On Morals," two thousand years ago, described market
    bubbles in the near-ancient world and how the lending industry came to
    periodically bankrupt (bank corrupt) nearly everyone in order to create
    exorbitant wealth for themselves, simply as result of their own avarice and
    greed. He was writing on why no one should allow themselves to get into debt
    through borrowing, but to live threadbare if need be, and to sell what your
    have and live roughly, rather than see a money lender. People have always
    sought to live beyond their means. And sooner or later, many are found that
    they do not have sufficient funds to pay the piper.
    ===
    Today, Banking Cartels run the world as we know it. They do not have
    complete control just yet, but they are expanding as government's fail through
    wars and replacements. I refer you to their transfer agent 'Swift'.
  • Jun 22 2013: chris,

    We wish it could work. It doesn't.

    Ask the peoples of the countries how they benefited from funding by Rich countries.
    The universal answer is that they didn't benefit. And the funding is depleted by the
    the time it could mean something by the many hands that governments use to steal it.

    It doesn't work, because the donors have preconceived ideas of what the people need.
    No one ever asks the beneficiaries what they want.

    When food stamps were introduced in America, there were exclusions on what could
    be bought, to eliminate a possible black market. Over time government learned what
    worked and what didn't. Changes were made. Today the food stamps allow diversity
    of purchase. But a real problem exists, in that our nation now has more people on
    food stamps welfare, than not.

    Silly world, isn't it.
  • Jun 22 2013: Central banks of countries are not part of the governing body. They are private banks owned by obscenely rich people who do the financial work for a bureaucracy who collectively couldn't find their head if it was screwed on.
    I submit therefore that they are extremely unlikely to do anything that is not beneficial to them regardless of the harm that it causes.
    Of course they don't mind if states fail. Then everything is for sale at pennies to the dollar. Reorganize and start again, except now you are working for a different master.